Devon Energy (DVN) Stock: $90 Target And Equal-Weight Rating

By Amit Chowdhry ● Jun 23, 2022
  • The shares of Devon Energy Corp (NYSE: DVN) have received a $90 price target from Barclays. These are the details.

The shares of Devon Energy Corp (NYSE: DVN) have received a $90 price target from Barclays. And Barclays analyst Jeanine Wai increased the price target on Devon Energy from $73 while maintaining an “Equal-Weight” rating on the shares. 

Wai adjusted the rating while remaining constructive on oil and exploration and production stocks following Barclays’ updated oil price forecast – which is $11 and $23 higher in 2022 and 2023, respectively. And Wai raised price targets by 18% on average and expects healthy upside and compelling yield despite secular headwinds.

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